With a GDP in 2023 that reached up to $370.1 billion, Maryland is one of the best states to pursue a business degree and career. Maryland’s diverse and dynamic economy has contributed to the state’s economic growth, with several thriving sectors and industries attracting businesses and professionals alike.
Maryland is a major economic hub focusing on several industries and sectors providing high-paying careers. The top 5 sectors driving growth in Maryland include:
- Real Estate and Rental and Leasing
- Professional, Scientific and Technical Services
- Healthcare and Social Assistance
Moreover, Maryland’s thriving Administration, Business Support, and Waste Management Services sector further solidifies the state’s appeal as an excellent location for pursuing an MBA degree. With a notable growth rate of 6.3%, this sector encompasses numerous business activities, making it an excellent training ground for individuals seeking diverse opportunities in management and administration.
In addition to its thriving economy, Maryland is also home to some of the best liberal arts and research universities in the nation. As a result, Maryland boasts one of the highest rates of educated population. In fact, CBS News ranked Maryland 6th as a highly educated state.
In addition to its vast colleges and universities and a highly educated workforce, Maryland’s strategic location on the East Coast further enhances its attractiveness for pursuing a business degree and building a successful career. Maryland benefits from its proximity to metropolitan areas such as Washington, DC, and Baltimore. This strategic location provides access to many job opportunities and facilitates networking, internships, and collaboration with influential players in various industries.
Here are five of the most comprehensive MBA programs offered by top-notch colleges and universities in Maryland.
Top 5 MBA Programs in Maryland
Robert H. Smith School of Business – University of Maryland
Established in 1856 as an institution dedicated to offering agricultural education to state residents, the University of Maryland has made significant strides to become what it is today. UMD is now known as one of the biggest and most rigorous higher education institutions in the United States. With more than 40,000 students, UMD is the biggest university in the state.
With eleven campuses and twelve colleges, there are a lot of opportunities for students to pursue their passion. UMD’s Smith School of Business is among the best business schools, ranked #1 in Maryland and #42 nationally by the US News and World Report.
Students seeking to have a Master of Business Administration degree can consider UMD’s two MBA pathways:
Its STEM-designated MBA offers students various concentrations. This opportunity allows them to align their studies with their aspirations, allowing them to tailor their ROIs as well. Some specializations offered under the pathway include AI and Business Strategy, Sustainability, and Consulting.
Smith MBAs offer real-world experiences in known companies, enhancing collaborative leadership skills. Students also gain hands-on experience managing the Mayer Fund, Maryland Smith’s $7 million professional management fund.
Sellinger School of Business & Management – Loyola University Maryland
Loyola University Maryland is one of the top preferred higher education institutions of students seeking private education in an environment that emphasizes spiritual growth. Founded in 1852, Loyola is the ninth-oldest Jesuit college in the US. This means that Loyola holds a rich tradition of academic excellence rooted in the Jesuit values of intellectual rigor, ethical responsibility, and a commitment to social justice.
Loyola houses three academic colleges, including a business school. The Sellinger School of Business and Management at Loyola is a top AACSB-accredited school that offers various business education programs from undergraduate to graduate levels. The business school prides itself on having a high job placement rate of 98%.
The Loyola Sellinger School of Business and Management offers two MBA tracks:
These MBAs allow students to customize how they learn in a way that their graduate journey won’t drastically interfere with their current lifestyle. Most applicants with full-time employment pursue a Professional MBA, which gives them more time to finish their coursework. On the other hand, students who want to finish their degrees faster to accelerate their career advancement are advised to opt for a full-time MBA.
In addition to its high job placement rate, another selling point of Loyola’s business school is its industry connections. The business school has over 20,000 alumni network connections, providing invaluable mentorship, networking, and career advancement opportunities. Moreover, Loyola’s business school actively collaborates with industry partners, bringing in guest speakers, hosting networking events, and facilitating internships.
The Earl G. Graves School of Business & Management – Morgan State University
Morgan State University, established in 1867, is a prominent historically black college in Maryland. Over the years, Morgan State University has committed to inclusivity and equal educational opportunities. The institution’s initial focus on training men for ministry expanded as it opened its doors to women, marking a pivotal shift in its admission policies. The university is also now known for its research initiatives, which the Carnegie Foundation acknowledges.
Morgan State offers nearly 140 academic programs for undergraduate and graduate students through twelve schools. Some of their programs are specifically catered to the unique needs of working adult students. As a result, Morgan State offers several online degrees, including:
The Morgan MBA is offered by their AACSB-accredited Graves School of Business and Management. Although there are no concentrations offered under this online MBA, students can tailor their MBA experience by choosing electives in Accounting, Business Administration, Finance, Information Systems, or Marketing.
The Graves School of Business and Management has several partnerships with industry professionals and leading companies. Their partnerships provide students ample opportunities, consulting assignments, intensive seminars to co-ops, and internships to learn practical skills and enhance their abilities. These experiences give MBA students more confidence for whatever path they choose—corporate careers, entrepreneurship, or higher education.
Department of Management – Frostburg State University
Frostburg State University is part of the University System of Maryland. It was founded mainly to train teachers for public school systems statewide. The university’s dedication to preparing educators remained steadfast, and the education programs continued to thrive, earning Frostburg State a reputation for producing highly qualified and dedicated teachers. As the university embraced its role in shaping the future of education, it also recognized the importance of addressing broader societal challenges.
Frostburg State now offers various majors leading to degrees, from majors in traditional disciplines to cutting-edge fields like business and technology. One of its most known programs is the:
This online MBA, which can be completed full- or part-time, can be completed in 12 months. Its accelerated format allows MBA students to fast-track their career development and reduce education costs. Accredited by the AACSB, Frostburg MBA students learn financial, marketing, operations, and accounting strategies. It also offers three concentrations: Business Analytics, Healthcare Management, and Management.
The program is open for both business and non-business undergraduates. As the program continues to evolve to meet the demands of a dynamic global economy, graduates of the Frostburg MBA are well-prepared to make meaningful contributions to their organizations and excel in leadership roles across diverse sectors.
Carey Business School – Johns Hopkins University
Johns Hopkins University is known for offering vast financial aid opportunities, such as scholarships, to talented students. Johns Hopkins also provides financial assistance to students demonstrating commitment to civic engagement and social impact, recognizing academic achievement and active participation. John Hopkins, considered the first research university in the United States, is a very prominent school ranked nationally.
John Hopkins has nine renowned schools, including the Carey Business School. The Carey Business School focuses on interdisciplinary collaboration and real-world applications to develop leaders capable of navigating the complexities of modern businesses. It offers several business education degrees, including the following three MBA pathways:
Hopkins MBA program, fully accredited by the AACSB, was among the first ten MBAs in the nation to be fully STEM-designated. Students have opportunities to pursue a concentration. But whichever concentration they pursue, they’ll be immersed in a curriculum that prepares them for the challenges and opportunities that intersect business with technology. Thus better-equipping graduates to take on leadership roles in STEM-related fields.
This is also one of the most sought-after MBAs of international students. The program opens opportunities for an extension of Optional Practical Training (OPT). OPT allows students on F-1 visas to work in their field of study in the United States for up to 36 months after graduation.
Frequently Asked Questions
What can I expect from an MBA in Maryland?
Maryland offers a wide range of Master of Business Administration (MBA) degree options for students who want to apply for management roles. MD MBAs offer a wide range of specializations and learning methods. Prospective students can also choose between conventional on-campus and online programs, allowing them to pursue an MBA that aligns with their current obligations and schedules.
The majority of these Maryland online MBA programs demand the completion of a capstone project, an internship, and thirty to thirty-six credit hours. Part-time MBA students might require more time to finish their program; full-time students typically finish it in two years.
Reputable MBA degrees in Maryland require applicants to have a regionally accredited bachelor’s degree, but it doesn’t necessarily have to be a business major. Candidates from a variety of backgrounds are frequently sought after by business schools, which also urge students to combine their knowledge in two or more professions.
Although fewer institutions now use entrance examinations than in the past, some may still demand applicants to have several years of job experience in addition to having good GMAT or GRE scores.
What’s the MBA salary and job outlook in Maryland?
The state’s MBA salary and job outlook are pretty promising thanks to Maryland’s robust economy and proximity to major metropolitan areas like Washington, DC. The average MBA salary in Maryland varies depending on industry, experience, and the specific role. Generally, MBA holders in executive and managerial positions tend to earn higher salaries.
The Labor Statistics Bureau shows that the average annual salary of management professionals in Maryland is $130,690. Another data from ZipRecruiter shows that MBA professionals in Maryland make an average of $145,214 annually. This MBA average salary might be lower than the national average, but you must remember that wages vary. MBA professionals working in Germantown, Hagerstown, Sykesville, Glen Burnie, and Silver Spring earn above the national MBA salary average.
You can also visit ProjectionsCentral and explore employment growth forecasts from 2020 to 2030 in Maryland. Employers may choose to recruit candidates with the relevant skills and knowledge that come from obtaining an MBA, even though many of the following jobs in the state do not necessarily require one.
What jobs can I pursue with an MBA in Maryland?
Earning an MBA in Maryland offers numerous career opportunities in various fields, including marketing, health services management, project management, management consultants, and financial management.
What are the current driving forces behind Maryland’s economy?
Maryland’s economy initially focused on tobacco production during colonial America. However, the early 1800s saw a shift towards industry and manufacturing, with Baltimore becoming a hub for commerce, metalworking, and shipbuilding. Today, Maryland is a highly educated state, with Washington, DC, as a significant city. The online MBA is a popular degree for government, for-profit, and nonprofit professionals seeking advancement in business management.
Who are the largest employers in Maryland?
Some of the largest employers of MBA graduates in Maryland are large-scale companies. Here are six of the best MBA employers in the state:
Lockheed Martin is a globally recognized aerospace and defense company, and its presence in Bethesda, Maryland, makes it one of the state’s leading employers for MBA graduates. The company is renowned for its cutting-edge technology and aeronautics, space, and defense innovation. Lockheed Martin employs over 13,370 professionals in different fields.
MBA professionals at Lockheed Martin often engage in strategic planning, project management, and business development, contributing to the company’s ongoing success in the highly competitive aerospace and defense industry.
Based in Baltimore, Constellation Energy employs over 13,370 people and is a significant energy sector player specializing in generating and distributing electricity and natural gas. MBA graduates at Constellation Energy may find diverse opportunities in areas such as energy market analysis, corporate strategy, and sustainable business practices.
With a focus on providing clean and reliable energy solutions, Constellation Energy offers a dynamic work environment for MBA professionals interested in the intersection of business and energy innovation.
As a global leader in the hospitality industry, Marriott International, headquartered in Bethesda, Maryland, is a prime employer for MBA graduates seeking roles in hotel management, brand strategy, and international business development.
With hotels and resorts worldwide, Marriott employs 140,000 professionals and offers MBA graduates the chance to contribute to the company’s growth, customer experience enhancement, and innovative approaches to the evolving travel and hospitality landscape.
T. Rowe Price, headquartered in Baltimore, is a renowned asset management firm focusing on investment management and financial services. MBA graduates at T. Rowe Price often involve themselves in portfolio management, financial analysis, and client relations.
The company’s commitment to delivering value to clients and fostering a culture of continuous learning makes it an attractive workplace for MBA professionals looking to make an impact in the finance and investment sector.
Located in Hunt Valley, McCormick is a global spice and flavor industry leader. MBA graduates at McCormick can explore opportunities in brand management, supply chain optimization, and market research. The company’s commitment to innovation in the culinary world provides MBA professionals with a unique platform to contribute to product development, marketing strategies, and the company’s overall growth in both domestic and international markets.
Under Armour, headquartered in Baltimore, is a prominent sports apparel and footwear company. MBA graduates at Under Armour may find exciting roles in marketing, brand management, and e-commerce strategy. With a focus on athletic performance and innovation, Under Armour provides a dynamic work environment for MBA professionals interested in the intersection of sports, technology, and consumer trends.
The company’s commitment to a culture of creativity and performance aligns with ambitious MBA graduates’ aspirations to seek impactful roles in the retail and sportswear industry.
Will employers value my Maryland MBA if it’s earned online?
The value of an MBA, whether earned online or through a traditional on-campus program, depends on various factors, and employers often consider the overall quality of the program, the reputation of the institution, and the specific skills and knowledge acquired by the graduate. Online MBA programs have gained widespread acceptance and credibility in recent years, with many reputable institutions offering online options.
If you earn your MBA online from a well-respected and accredited Maryland institution, employers will likely value your degree. However, choosing a program from a recognized and accredited business school is essential, as accreditation ensures that the MBA program meets certain standards of quality and rigor. The most respected MBA programs are those that are Association to Advance Collegiate Schools of Business or AACSB-accredited.
Before you go, see the following:
- The Best Online MBA Programs for Working Professionals
- The Top HBCU MBA Programs
- The Most Affordable Online MBA Programs